psychology of price

Market Pricing: Psychological Method

For many years, researchers have investigated customers’ response to product pricing. Some of the results point to several interesting psychological effects price may have on customers’ buying behavior and on their perception of individual products. We stress that certain pricing tactics “may” have a psychological effects since the results of some studies have suggested otherwise. …

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Market Pricing: Price Lining Method

As we have discussed many times throughout the Principles of Marketing Tutorials, marketers must appeal to the needs of a wide variety of customers. The difference in the “needs-set” between customers often leads marketers to realization that the overall market is really made up of a collection of smaller market segments (see Targeting Markets Tutorial). …

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